Oman to offer six new oil blocks for investment as part of the 2019 Licensing Round
04 Dec 2018
Oman has announced plans to offer six new oil and gas blocks for investment as part of the 2019 Licensing Round due to be unveiled in the first quarter of next year. The new blocks - distributed across the play fairway onshore Oman - underscore sustained investor confidence in the Sultanate’s upstream energy sector, according to a high-level official of the Ministry of Oil and Gas. Dr Saleh al Anboori, Director-General of Planning and Studies, identified the new acreage on offer as Blocks 70, 73, 74, 75, 76 and 58.
The official made the announcement during the opening session of the 2nd OPAL Oil & Gas Conference at the Oman Convention & Exhibition Centre yesterday. Speaking on the theme, ‘Investing in Oman’s Oil & Gas Industry’, he said the six blocks represent new acreage that is surrounded by existing oil and gas fields. They will be awarded against Exploration and Production Sharing Agreements (EPSA). In addition, two other blocks are also open for investment based on ‘One-to-One’ negotiations with qualified international parties with the technological wherewithal and resources required to unlock the challenging hydrocarbon potential of these concessions. They include Block 71, containing the Habhab field, home to a multi-billion barrel (STOIIP) ultra-heavy oil reservoir. The other concession is Block 43B.
Source: Oman Daily Observer